Thani bin Ahmed Al Zeyoudi, a senior UAE official, has voiced optimism that Ethiopia will play an important role as a route for Emirati exports and re-exports across the African continent.
The Minister of State for Foreign Trade told Emirates News Agency that the country's leadership has made strengthening ties with African countries a priority. Ethiopia, the second-most populated nation on the continent, may have a significant impact on this plan, he observed.
He claimed that the leadership of the UAE has instructed the nation to improve ties with Ethiopia in particular.
According to Al Zeyoudi, the UAE believes Ethiopia's sizable home market and advantageous position make it the ideal country to increase non-oil trade flows to other high-potential East African nations.
The countries' bilateral trade totaled USD 1.4 billion in only 2022.
Through its extensive network of trading partners, the UAE can assist Ethiopian exports in reaching new markets, and Ethiopia may serve as a major entry point for Emirati exports and re-exports to East Africa and other African nations, according to him.
Ethiopia is an important trading partner in Africa and a promising area to invest, with many chances in its rapidly expanding emergent economy, he noted. As such, the UAE appreciates its trade and investment connections with Ethiopia and wishes to take them to new heights.
Al Zeyoudi reports that non-oil exports from the UAE to Ethiopia showed a strong recovery in 2022, increasing 4.5 percent year over year to reach USD 210.3 million. This expansion represented a rebound after the 22 percent decline brought on by the pandemic in 2020.
According to the minister, re-exports from the UAE to Ethiopia have continued to grow. When compared to the prior year, it climbed 8.6% in 2022 to reach USD 553.3 million.